SENATE BILL 25
55th legislature - STATE OF NEW MEXICO - second session, 2022
William P. Soules
FOR THE SCIENCE, TECHNOLOGY AND TELECOMMUNICATIONS COMMITTEE
RELATING TO HIGHER EDUCATION; CREATING A RESEARCH GRANTS CLOSING FUND; PROVIDING FOR A COMPETITIVE APPLICATION PROCESS; PROVIDING FOR A REVIEW PANEL; MAKING AN APPROPRIATION.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
SECTION 1. [NEW MATERIAL] RESEARCH GRANTS CLOSING FUND CREATED--APPLICATION PROCESS--REVIEW PANEL.--
A. The "research grants closing fund" is created as a nonreverting fund in the state treasury. The fund consists of appropriations, gifts, grants, donations and income from investment of the fund. The higher education department shall administer the fund, and money in the fund is appropriated to the department to provide researchers at the state's public post-secondary educational institutions with required matching funds needed to receive research grants from public or private sources. Disbursements from the fund shall be on warrants of the secretary of finance and administration pursuant to vouchers signed by the secretary of higher education or the secretary's authorized representative.
B. A state public post-secondary educational institution may apply to the higher education department for a grant from the research grants closing fund in accordance with rules promulgated by the department to be used to meet matching fund requirements of research grants. Closing grants shall be based on a competitive process with applications reviewed by a panel of experts established by the department in consultation with the presidents of those state public post-secondary educational institutions. The review panel shall judge proposals based on excellence in research design and other factors, if any, determined by the department and announced when grant applications are being sought.
C. To apply for a closing grant, a state public post-secondary educational institution must have equal or greater matching funds for the research proposal from sources other than the state.
SECTION 2. APPROPRIATION.--Forty million dollars ($40,000,000) is appropriated from the general fund to the research grants closing fund for expenditure in fiscal year 2023 and subsequent fiscal years to carry out the purposes of the fund. Any unexpended or unencumbered balance remaining at the end of a fiscal year shall not revert to the general fund.
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